R. STAHL Reports Robust Financial Performance in First Quarter of 2024

R. STAHL AG achieved significant financial results in the first quarter of 2024, demonstrating resilience and growth despite varied market conditions. The company reported an 8.5% increase in sales, totaling €84.7 million, compared to the same period last year. This growth is credited to strong performances in the Americas and Central regions, coupled with easing supply chain bottlenecks which allowed higher production capacity utilization.

The order intake for the quarter stood at €92.3 million, slightly below the extraordinary level of the previous year but significantly higher than the last quarter of 2023. Although there was a noticeable decline in orders from Germany, the Americas, and Asia/Pacific, overall demand remained robust, with the order backlog climbing to €122.0 million as of March 31, 2024.

However, the EBITDA pre-exceptionals saw a decrease to €8.4 million from €10.4 million in the previous year, affected by one-time items such as the escalation of personnel costs and the implementation of the EXcelerate strategy program. Consequently, the EBITDA margin pre-exceptionals reduced to 9.9% from 13.3% in the prior year.

In light of these results, R. STAHL remains cautiously optimistic for the fiscal year 2024, expecting sales to reach between €335 million and €350 million. Concerns about rising personnel costs and increased investment for growth are acknowledged, but the firm maintains its projection for EBITDA pre-exceptionals to be between €35 million and €40 million.